IIROC is re-publishing for public comment proposed amendments to the Universal Market Integrity Rules regarding acceptable
foreign trade reporting facilities(“Proposed Amendments”). The proposal was initially published for comment on April 21, 2016
and four comment letters were received. The purpose of the Proposed Amendments is to accommodate certain trading
practices and help ensure large orders have access to “upstairs” liquidity pools in the U.S., that under current requirements are
difficult to access. The Proposed Amendments would introduce a new definition of “acceptable foreign trade reporting facility”
and would allow trades in a listed or quoted security over 50 standard trading units and over $100,000 in value or any to be
reported to an acceptable foreign trade reporting facility. In response to comments received, the Proposed Amendments would
also allow any trade originating from a contingent order related to a derivative transaction where the derivative transaction
occurs outside of Canada and the trade is handled by the same intermediary as the derivative transaction to be reported to an
acceptable foreign trade reporting facility.

A copy of the IIROC Notice including the proposed amendments is published on our website at www.osc.gov.on.ca. The
comment period ends on June 26, 2017